2013-09-23 BOS Packet - Released

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AGENDA ITEM SUMN[A. Y LEXINGTON BOARD OF SELECTMEN MEETING DATE: STAFF: ITEM NUMBER: September 23,2013 Rob Addelson I.4 SURIECT: FY2014 Water and Sewer Rate Hearing EXECUTIVE SUMMARY: This is the second of three meetings on proposed Water/Wastewater Rates for FY2014. At the first meeting held on September 9, 20123,the Board reviewed the results of FY22013 water and Wastewater operations,billed usage and retained earnings histories;the FY2014 water and Wastewater budgets as adopted at the 2013 annual flown meeting(direct and indirect costs that will serve as the basis for calculating FY2014 water and wastewater rates), and proposed changes to the budgets adopted last spring; and,preliminary FY2014 water and wastewater rates. Tonight's meeting is for the purpose of taking public comment on proposed rates. Proposed rates are included in the attached powerpoint presentation which is a distillation of the information included in your September 90'agenda packet and includes FY13 operating results,the FY14 water and wastewater budgets to be funded with rate and non-rate revenue,a history of retained earnings,proposed FY14 rates and the impact of proposed rates on various classes of users. The third meeting will be held on October 7,2013 at which time it is anticpated the Board of Selectmen will vote on recommended rates. FINANCIAL IMPACT:NA RECOMMENDATION/SUGGESTED MOTION: NA STAFF FOLLOW-UP: Finance Prepared by raa